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There are many tax advantages to including a charity in your estate plan. Some options to consider:

• A bequest in a will is the most popular planned gift. When designating your congregation or the Anglican Diocese of Pittsburgh’s Archbishop Duncan Legacy Fund in your will, consider:
  • an outright monetary bequest,
  • a percentage of your estate,
  • a percentage of the “rest, residue and remainder” of your estate after a number of other bequests have been fulfilled, or
  • a specific asset such as personal or real property.
• Gift of stocks or bonds (if they have increased in value since you obtained them, this may provide significant tax advantages)
• Gift of real estate such as a home, vacation property, undeveloped land, farmland or commercial property
• Gift of personal property such as jewelry, antiques, automobiles, art work, livestock, or other property
• Gift from an IRA, pension, or other retirement account. Sixty to seventy percent of your retirement assets may be taxed if you leave them to individual heirs. The Anglican Diocese of Pittsburgh is not taxed upon receiving tax-deferred assets. If you are 70½ or older, you may receive significant additional tax advantages by giving directly through your retirement account.
• Designate the Anglican Diocese of Pittsburgh as a beneficiary on your life insurance policy or purchase a charitable gift rider
• A charitable lead trust would pay an income to your congregation or the Anglican Diocese of Pittsburgh for a specific length of time and would then leave the remainder of the trust to designated beneficiaries, usually family members. The purpose of the charitable lead trust is to reduce taxes on the estate of the deceased while maintaining the family’s control of the estate’s assets.
• A charitable remainder trust allows the donor to place assets into the trust and then have it pay the beneficiaries for a stated period of time. Once this timeframe expires, the remainder of the estate is transferred to the beneficiary charities.
• A Donor Advised Fund (DAF) is a charitable-giving vehicle created to manage charitable donations on behalf of organizations, families or individuals. The donors surrender ownership of what they put in the DAF but retain advisory privileges over how the DAF is invested and how it distributes money to your preferred charities.

From time to time, refresh your estate plan to ensure that it:

• Uses our official name: Anglican Diocese of Pittsburgh
• Specifies the appropriate designation
• Correctly lists the name and municipality of your congregation

In making any estate plan, we encourage you to consult professional tax advisors.